Budget 2016: Everything You Need to Know

  • Growth forecasts DOWN from 2.4% to 2% in 2016, from 2.5% to 2.2% in 2017 and from 2.4% to 2.1%in 2018
  • Public spending CUT to 36.9% of GDP, down from 45% in 2010
  • £3.5 billion extra CUT by 2019/20
  • Disability budget rises by £1 billion
  • International aid CUT £650 million by 2019-2020
  • Debt target as percentage of GDP for this year MISSED
  • Borrowing UP from £4.6 billion to £21.4 billion in 2018-19
  • Debt 79.9% of GDP in 2018/19
  • OBR forecasts over £40 billion MORE borrowing
  • Deficit reduction plan REVISED AGAIN: 2016/17 £55.5 billion deficit (+£6 billion), 2017/18 £38.8 billion deficit (+£14 billion), 2018/19 £21.4 billion deficit (+£21.5 billion), 2019/20 £10.4 billion surplus (+£0.3 billion higher)
  • Corporation tax CUT to 17%
  • Business rates CUT so 600,000 small businesses will pay no rates at all
  • Tax CUTS for North Sea oil and gas industry
  • Michael Heseltine to head up commission looking Thames Estuary growth
  • New mayors for some English counties
  • London fully retaining business rates
  • High Speed 3 between Manchester and Leeds
  • All schools to become academies
  • Maths compulsory in schools until 18
  • SUGAR LEVY on soft drinks
  • Sugar tax will raise £520 million
  • Fuel duty FROZEN again, beer duty FROZEN
  • NI contributions SCRAPPED for self-employed workers
  • Capital gains tax CUT from 28% to 20%, for basic rate taxpayers down from 18% to just 10%
  • ISA limit UP to from £15,000 to £20,000
  • New lifetime ISA for under 40s: save up to £4,000 and get up £1,000 bonus from the government per year
  • Tax free personal allowance to RISE to £11,500 from April 2017
  • 40p tax threshold RISES to £45,000 next year



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Jeremy Corbyn told by veteran Jewish MP Margaret Hodge…

“You’re a f***ing anti-aemite and a racist”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Undead UKIP Poll Rise Terrifies Tories Undead UKIP Poll Rise Terrifies Tories
Marr’s May Monopoly Marr’s May Monopoly
CCHQ Begs Association Chairmen CCHQ Begs Association Chairmen
Poll: Voters 2 to 1 for No Deal Poll: Voters 2 to 1 for No Deal
Paul Mason Reported to Police Paul Mason Reported to Police
Etonian Free Cabinet Etonian Free Cabinet
Tory MP Puts Letter In to Brady Tory MP Puts Letter In to Brady
Lord Carrington Lord Carrington
Poll: May’s Deal or No Deal? Poll: May’s Deal or No Deal?
Labour’s Chequers Survival Kit Labour’s Chequers Survival Kit
Whips’ Patsies in Full Whips’ Patsies in Full